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Even after registering to report credit history, many companies still don’t know about E-OSCAR®.

Reporting errors, fraud and other related scenarios can generate disputes between a consumer and the company reporting that consumers credit history.

“Reporting errors must be corrected promptly in order to comply with the Fair Credit Reporting Act. See section 623 (a) (2) (B).” – source: Metro 2 CRRG

 

What is E-OSCAR?®

e-OSCAR®, the Online Solution for Complete and Accurate Reporting, is a browser-based, Metro 2® compliant system that has been developed by Equifax, Experian, Innovis and TransUnion.

e-OSCAR-web was designed to provide you with an online solution for processing Automated Credit Dispute Verifications (ACDVs) and Automated Universal Data forms (AUDs).

 

How To Use E-OSCAR®

As the name relates, E-OSCAR® is used to perform Automated Credit Dispute Verifications. So what the heck does that mean?

It means when you report credit history to the national credit bureaus, the credit history you have reported can be disputed by your customers (at some point you will have a dispute to resolve, it just happens in this industry).

While there are several ways to handle disputed credit history, you only have 30 days to resolve and or respond to the dispute. This is clearly outlined in the FCRA (Fair Credit Reporting Act See section 623 (a) (2) (B).

E-OSCAR® gives you a fast way to update a consumers credit history within a small amount of time. This is important because you may only be reporting your entire credit portfolio every 30 days(which is standard for almost every business). You may miss the mark if you rely on just your normal reporting system.

 

How To Get Setup With E-OSCAR?

Fist things first! If you are already reporting credit history to 1 or more credit bureaus, registration with E-OSCAR may only be a few steps away. You need to contact E-OSCAR and most likely one of your credit bureau account representatives at the bureau(s) you are reporting to.

This is important because you may only have to contact E-OSCAR® and provide some information to be enrolled in the E-OSCAR online system.

It is reported that you may be automatically registered to use E-OSCAR® as a part of your bureau approval completion, you just need to activate it. Please verify this with both parties stating with your credit bureau reps.

Otherwise, if you have not begun to report credit history and have not registered or started registration with one of the major national credit bureaus, you should find out if you qualify to report to a credit bureau by contacting them directly.

 

Where to find E-OSCAR

Official Page: http://www.e-oscar.org/

Call the e-OSCAR Help Desk at (866) MY OSCAR or (866) 696-7227 from 8:00 a.m. to 8:00 p.m. ET Monday through Friday.

 

CDIA Online: http://cdiaonline.org/

E-OSCAR® and Metro2® are registered trademarks.